Kailash Babar

Brookfield Asset Management is reportedly planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts. The Canada-based asset manager had earlier committed to investing over '1,500 crore in the hotel chain, which was the largest-ever foreign investment in the Indian hospitality sector. The move comes as India's hospitality sector has rebounded strongly post-Covid-19, with a surge in demand for premium experiences. Other luxury operators like Marriott International have also seen a rise in deals, indicating a positive trend in the sector.

Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, residential development project with a total constructed area of 1 million sq ft, which has been marketed by Godrej Properties. In March, a new project Godrej Vistas was launched under this arrangement.

Kalpataru Ltd acquires rights for housing society redevelopment in Lokhandwala, Mumbai with significant revenue potential. Multiple redevelopment projects in progress in Mumbai suburbs. Market achieves record highs despite rising property prices.

The capital market regulator Securities & Exchange Board of India (SEBI) has announced that it will regulate fractional ownership platforms (FOPs) offering real estate assets through SM REIT.

Bank loans to commercial real estate, including residential construction, nearly tripled last fiscal year at 23 percent, amounting to Rs 3.97 lakh crore. If the impact of the merger of HDFC with HDFC Bank is included, the loan growth increases to 38.9 percent, with outstanding loans reaching Rs 4.48 lakh crore as of March 31. Property analysts note growth across segments, with the top seven property markets witnessing total sales of 74,486 apartments in the quarter, following a record-breaking quarter in December.

Pirojsha Godrej's strategic leadership at Godrej Properties during the global financial crisis led to innovative approaches like joint developments and a capital-lite model. His focus on efficiency and immediate project launches propels the company's growth.

The companys net profit for the quarter rose 14% on-year to Rs 471 crore and to Rs 725 crore for the financial year 2023-24. The March quarter was the companys highest-ever quarterly sales for the third consecutive quarter with the sale of 5,331 homes with 8.17 million sq ft area sold.

NCLT approved Shree Naman's acquisition of Radius Infra Holdings, settling 81% debt. Shree Naman's plan had 100% lenders' vote. JC Flowers ARC has 81.12% CoC voting power. Naman Group to infuse ₹50 crore working capital.

Godrej Properties, which is part of GIG, will have the right to use the brand for real estate development. GEG entity Godrej & Boyce will use the brand for any development on land parcels it owned on January 1 and it will not undertake any development outside of those holdings.

Developers like Isprava Group and House of Abhinandan Loha are witnessing a surge in interest from millennials in Mumbai, Bengaluru, Pune, Delhi, and Hyderabad. The convenience of managing these investments through digital platforms and the flexibility offered by remote work trends are making second homes a practical and appealing choice for young professionals seeking a balance between work and leisure.